Home > SurreyComet.co.uk

House prices up by a quarter as first-time buyers left 'desperate'

Surbiton.com: May 20, 2014 - 5:00am

House prices in Kingston have rocketed by more than a quarter since this time last year, with first-time buyers “desperately” trying to get on the ladder.

Figures released by property website Rightmove show the average house price in the borough is now £851,634 – up from £814,260 last month and from £676,912 last May. Bank of England boss Mark Carney warned on Sunday that Britain’s booming housing market “posed the biggest risk to financial stability”. Kingston’s month-on-month rate of price increase, which dipped last month, was 4.6 per cent from April to May.

Gareth King, from Chancellors in Surbiton, who called the market “bonkers” in March, said: “I can’t see it stopping. The first time buyers desperately want to get on the market. Even properties that need work at the moment are going for record numbers.”

One two-bed flat off St Mark’s Hill in Surbiton recently sold for 12 per cent over the asking price, Mr King said.

Read more: 
http://www.surreycomet.co.uk/news/11222975.House_prices_up_by_a_quarter_as_first...

Comments

Post new comment

  • Web page addresses and email addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <p>
  • Lines and paragraphs break automatically.
  • Filtered words will be replaced with the filtered version of the word.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

By posting content on Surbiton.com, you agree to adhere to the following guidelines.

  • Your username and password must only be used by you, keep them safe. If a posting is made using your username and password it will be considered to have been posted by you. If you have a friend who wants to use our site and post messages on the site, show them how to register.
  • Be courteous at all times, inciting racial hatred, posting abusive, obscene, threatening, harassing, defamatory, libellous or sexually explicit material or any material that is found to be offensive is not acceptable and we may suspend your username and password.
  • Retaliating to offensive posts causes more problems for other users on the discussion boards. Just report such messages to us using the Feedback link which is available at the top of every page or the 'report this' link associated with individual postings. We will act on every report we receive.
  • Please respect other people's work and do not post material that infringes copyright.
  • Do not post information that you know to be confidential or sensitive or otherwise in breach of the law. You should only post material that you know to be public knowledge. If you have any doubts do not post it on the site.
  • Never attempt to gain unauthorised access to any area of the site. This is known as hacking and is illegal.
  • Content posted represents the opinions of the author, and does not represent the opinions of Surbiton.com or its affiliates and has not been approved or issued by Surbiton.com. You should be aware that the other participants are strangers to you and may make statements which may be misleading, deceptive or wrong.
  • Spoofing or posing as another user is unacceptable. Anonymous users' postings should always be considered with suspicion.
  • Help keep Surbiton.com a safe place for information and opinion. Please alert us of any anti-social behaviour as described above.
Please note that Surbiton.com does not monitor the comments posted and we are therefore reliant upon users reporting antisocial behaviour.